GBPUSD Shows Bearish Signs!

GBPUSD Shows Bearish Signs!

GBPUSD Shows Bearish Signs!

GBPUSD: which exhibits sharp upward movements, we see that there are transitions to a downward trend with limited rises.

Today, the Bank of England kept the policy rate unchanged at 0.1%, as expected. The decision was taken unanimously. The bank also kept its asset purchase target at £895 billion. The asset purchase decision was taken by 7 votes to 2. David Ramsden and Michael Saunders voted against the resolution.

Technically: If the downtrend continues, the price could drop back to 1.3644 if it breaks the 1.3673 support level. However, in possible upward movements, the price may reach the 1.3758 resistance level.

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